Common use of Minimum Unencumbered Pool Leverage Ratio Clause in Contracts

Minimum Unencumbered Pool Leverage Ratio. The ratio of (i) Gross Asset Value of the Unencumbered Pool to (ii) Consolidated Unsecured Debt, to be less than 1.50 to 1.00 at the end of any fiscal quarter; provided, however, that (A) Consolidated Unsecured Debt shall be adjusted by deducting therefrom an amount equal to the lesser of (x) the amount by which the unrestricted cash and cash equivalents of the Consolidated Group at the end of such fiscal quarter exceeds $35,000,000 and (y) Consolidated Unsecured Debt that by its terms is scheduled to mature on or before the date that is 24 months from the date of calculation, and (B) Gross Asset Value of the Unencumbered Pool shall be adjusted by deducting therefrom the amount by which Consolidated Unsecured Debt is adjusted under the preceding clause (A).